Crypto Exchange | Bitcoin Exchange | Bitcoin Trading | KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2Pfiat trading, futures trading, staking, and lending to its 27 million users in 207 countries and regions.
In 2022, Kucoin Login raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
Global leading audit firm Mazars has released a report about KuCoin’s Proof-of-Reserves to determine the total collateralization ratio of their asset holdings. The report prepared by Mazars concluded that KuCoin’s BTC, ETH, USDT and USDC reserves are overcollateralized, which are 101%, 100%,102% and 101% respectively. Mazars verified KuCoin’s total reserves and liabilities on Nov. 26.
The collateralization analysis assets included customers’ main, trade, margin, robot, contract, high frequency trading, pool, risk and trust accounts for BTC, ETH, USDT and USDC held on the Bitcoin, Ethereum, Tron, Algorand, EOS, Arbitrum and KuCoin Community Chain. Meanwhile, KuCoin launches the proof-of-reserves website, allowing users to verify their assets on the Merkle Tree.
Johnny Lyu, CEO of Kucoin Login, commented on this, saying, "As a people's exchange, we value users' trust in us and commit to ensuring that we contribute in every way to building a culture of transparency in the industry. Our cooperation with Mazars is just one of the measures to ensure we follow through on that commitment to our users. At the same time, KuCoin will continue to explore more ways to better serve our users."
Please click here for the full report and KuCoin users can verify that their assets were included in the report independently.
1. Order-placing: The available order amount, positions, and the leverage are determined by the risk limit level. As is shown above, If the user’s risk limit level is 3, then the max leverage is 50x, and the max position is 2,000,000 USDT.
2. Liquidation: The liquidation price is based on the corresponding maintenance margin rate of the risk limit level. If the user’s risk limit level is beyond 1, part of the position will be liquidated to lower the risk limit level, and the realized PNL will be credited to the account. If the user’s risk limit level is 1, the position will be liquidated. To partially close the position, FOK (Fill or Kill) order will be adopted; if failed, the entire position will be liquidated.If the user holds a position with the value of 2,500,000 USDT and the risk limit level is 4, when liquidation occurs, the system will reduce the position to lower the risk limit to level.
3. Reduced Value = Position Value - Limit Amount of the Original Level, namely 2,500,000 USDT – 2,000,000 USDT = 500,000 USDT. The position will be closed at the value of 500,000 USDT. After reducing the position, the risk limit level alters to 3, the maintenance margin rate is updated, and the position returns to normal.
